Making a million dollars from online poker

How easy is it to make a million dollars from online poker? How high do you have to play to be able to do this and how good do you need to be? Well firstly I don’t think that you need to be a great poker player and I certainly do not think that you need to play all that high either. However what you do need to do is to commit to a process and stick to it. The first stage is to educate yourself to a level where you are a winning poker player. Let us say that you could make $10/hr and played 20 hours per week.

This means that you would make $10,000 per year playing online poker. Now at that rate it would take 10 years to make $100k and 100 years to make a million. So to speed up this process then you either have to do two things or ideally both. That is to increase your hourly rate and to play more hours. Now look what happens when a solid pro that makes $50/hour and plays full time enters the equation. They make $2000 per week and $100,000 per year. So they could reach $1 million in a mere ten years just by doing nothing special at all. The mistake of course is to view this as some sort of landmark win because it isn’t. Once you become good enough then poker simply becomes a job and no more. So our solid pro if he wants to reach that $1 million goal in less time needs to increase his hourly rate or play more hours. He could possibly stretch to playing 50 hours per week and if he got a better rake deal or played more tables successfully then he may increase his hourly rate to $70/hour.

Suddenly he is making $3500 per week and around $175,000 per year and $1 million dollars is achieved after only six years. What this shows is that making a considerable amount of money from the game is achievable if you have a good solid business plan and you have the discipline to stick to that plan. In no way do you need to be a great poker player but you do need to be very good at managing bankrolls and game selection. These then become the key skills of a poker player. If you are disciplined to play solid poker at levels where there are weak players and dead money then a solid player will make money. In fact if you want to put some figures onto this then a solid player should be making 5bb/100 hands and so at $0.50-$1.00 then this means $5/100 hands of poker or $0.05 per hand. If they play ten tables at say full ring then they will be seeing around 750 hands per hour and so with rakeback will be making in the region of $45/hour.